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  • KITA Held “2020 Trade Industry Forum”
    2020-07-21 hit 681

                                     KITA Held 2020 Trade Industry Forum

    -     Chairman Kim Youn-ju said, Korea needs to play a leading rule in establishing global digital trade norms  -

     

    The Korea International Trade Association (Chairman: Kim Young-ju) and the Ministry of Trade, Industry and Energy co-hosted 2020 Trade Industry Forum at the Intercontinental Seoul COEX Hotel in Samseong-dong on July 21st.

     

    The forum was co-chaired by Chairman Kim Young-ju of KITA and Minister Sung Yoon-mo of MOTIE and attended by 22 individuals, including leaders from major exporting companies and business organizations such as President Jin Gyo-young of Samsung Electronics, President Song Ho-sung of Kia Motors, and Chairman Kang Ho-gap of the Federation of Middle Market Enterprises of Korea, and trade experts. The participants discussed the recent trade environment surrounding Korea and countermeasures.

     

    Chairman Kim stated in his opening speech, “While many predict that we will continue to suffer from COVID-19 in the second half of this year, Korean companies are facing challenges and opportunities at the same time to deal with conventional trade protectionism as well as not to fall behind digital standardization.” He added, “As the recent global trend of protectionism is expanding beyond the existing trade remedy to new areas such as environment and labor, we need to take proactive measures through public-private cooperation and communication to minimize damages on Korean industries.

     

    He also stated, “As the transition to the digital economy and the non face-to-face activities become routine, Korea needs to play a leading role (Rule-setter) in the process of establishing global digital trade norms, and added, "We also need to work on the ways to link trade with the service industry, which has great growth potential and job creation effects from the manufacturing industry-oriented trade strategy of the past.

     

    On this day, the Ministry of Trade, Industry and Energy announced the “Post COVID-19 New Trade Strategy” and set to build a close public-private cooperation system. In addition, attendees of the forum also had a time to discuss the trade agenda of each company, including import restrictions of major importing countries and supply chain changes since the outbreak of COVID-19.



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